Regression Analysis Was Applied Between Demand for a Product (Y)

question 123

Multiple Choice

Regression analysis was applied between demand for a product (y) and the price of the product (x) , and the following estimated regression equation was obtained. ​ = 120 - 10x
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Based on the above estimated regression equation, if price is increased by 3units, then demand is expected to

• A) increase by 120 units.
• B) decrease by 100 units.
• C) increase by 30 units.
• D) decease by 30 units.

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